LIC ups stake in Union Bank of India to over five per cent It has now increased to 5.06 per cent, as per a regulatory filing of LIC sent to exchanges through Union Bank of India on Friday. Share Via Email | A+A A- By PTI NEW DELHI: Life Insurance Corporation of India's shareholding has risen by over 5 per cent in the state-run Union Bank of India with acquisition of nearly 2 per cent additional stake in the bank. LIC held 3.09 per cent stake in UBI earlier, representing 19,79,23,251 equity shares of the bank. It has now increased to 5.06 per cent (34,57,64,764 shares), as per a regulatory filing of LIC sent to exchanges through Union Bank of India on Friday.